A framework for strategic acquisition
Fort Wayne, Indiana (Sept. 5, 2017) – A leading insurance brokerage agency has established a new partnership that supports its strategic expansion initiative and continued success.
Ash Brokerage, one of the largest independent insurance brokerage general agencies in the United States, today announced it has established a strategic relationship with Century Equity Partners, a Boston-based private equity firm, in order to support Ash’s plans for continued growth.
The partnership combines Ash Brokerage’s innovative infrastructure, technology, and servicing platform with Century’s mergers and acquisition experience to pursue a strategic acquisition initiative.
An industry-leading infrastructure, a world class culture
“To say we are excited about our new partnership with Century Equity Partners would be an understatement,”said Tim Ash, CEO of Ash Brokerage. “Together, we will take our industry-leading technology solutions and infrastructure to enable even more advisors and firms to navigate the increasingly challenging operating and regulatory environment. We’ve built sophisticated tools and have a world-class culture, and we will be actively looking for like-minded partners that want to join the Ash team.”
“It is a privilege to partner with a firm the quality of Ash Brokerage,”said Stephen Marquardt, managing director of Century Equity Partners. “The management team has done an amazing job of working to become the preeminent wholesale distributor of life insurance, annuities, long-term care and disability insurance products. We are excited to support their continued organic growth and complement that growth with selective, strategically important add-on acquisitions,”
Under the terms of the transaction, Century acquired a minority interest in Ash Brokerage with the company’s existing management team maintaining their majority interest in the firm.
About Ash Brokerage
Ash Brokerage is a leading insurance brokerage general agency focused transforming the financial services industry. Providing access to innovative solutions, including life insurance, annuities, long-term care and disability income insurance, Ash is focused on supporting financial professionals so they can better serve their clients and grow their business. Headquartered in Fort Wayne, Indiana, Ash Brokerage has more than 350 employees nationwide. For more information, visit www.ashbrokerage.com.
About Century Equity Partners Century Equity Partners is a Boston-based private equity firm that focuses on investing in companies operating across the insurance, asset and wealth management, specialty finance and banking services sectors. Century provides private equity to finance the expansion, recapitalization, or support the acquisition strategy of mid-market companies. For more information, visit www.cepfunds.com.